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Syncona writes up NightstaRx value

Syncona writes up NightstaRx value – Syncona investment, NightstaRx has completed a US$45m funding round. Syncona has invested $12.5m at this stage and retains a 46% stake in the business. The existing investment in NightsaRx has been written up by £20.3m (3.1p per Syncona share) to £69.7m.

NightstaRx also attracted investment in this round from existing shareholder New Enterprise Associates (“NEA”) and new leading international institutional investors.

Syncona launched NightstaRx in 2014 with Professor Robert MacLaren, Professor of Ophthalmology at the University of Oxford. The business specialises in developing gene therapies for inherited retinal dystrophies and is building a pipeline of ophthalmology gene therapy product candidates for the treatment of devastating diseases. Its most advanced program is in clinical trials for the treatment of choroideremia, a rare disease which causes permanent loss of eyesight and for which there is currently no other treatment. It has also commenced clinical trials for a second program to treat X-Linked Retinitis Pigmentosa in March of this year. This latest round of funding will enable NightstaRx to further progress its pipeline.

Syncona’s chief investment officer and NightstaRx chairman, Chris Hollowood, said: “Since launching NightstaRx in 2014, we have focused on setting the business up for long term success as it seeks to fulfil its goal to become a global leader in gene therapies for inherited blinding conditions. We are delighted to continue to play a significant role in the business which has attracted leading international institutional investors who are aligned with our vision. We look forward to working with the company’s shareholders and management team to bring this to fruition.”

SYNC : Syncona writes up NightstaRx value

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